Soltis Investment Advisors LLC Sells 33,469 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Soltis Investment Advisors LLC lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 46.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,524 shares of the company’s stock after selling 33,469 shares during the quarter. Soltis Investment Advisors LLC’s holdings in American Electric Power were worth $3,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its holdings in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in American Electric Power in the third quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power in the third quarter worth $33,000. LRI Investments LLC raised its stake in American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its position in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.5 %

American Electric Power stock opened at $95.10 on Wednesday. The firm has a market cap of $50.60 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.77 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The business has a fifty day moving average of $97.98 and a two-hundred day moving average of $96.07.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.91%. American Electric Power’s payout ratio is currently 74.55%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley lowered their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays dropped their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $98.20.

American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.